Tuesday, August 11, 2009

Originally Posted in "Freedoms Phoenix" News That Matters or Should Matter to YOU! 08/08/2009 • Market Skeptic

Uncle Sam is goosing the bond market just like he is the stock market. Take a look at Treasury's latest bit of chicanery which was stuffed in the back pages of the Wall Street Journal back in June: "The sudden increase in demand by foreign buyers for Treasurys, hailed as proof that the world's central banks are still willing to help absorb the avalanche of supply, mightn't be all that it seems. When the government sells bonds, traders typically look at a group of buyers called indirect bidders, which includes foreign central banks, to divine overseas demand for U.S. debt. That demand has been rising recently, giving comfort to investors that foreign buyers will continue to finance the U.S.'s budget deficit. But in a little-noticed switch on June 1, the Treasury changed the way it accounts for indirect bids, putting more buyers under that umbrella and boosting the portion of recent Treasury sales that the market perceived were being bought by foreigners."

Reported by Lori Smith

Click on title above for full article as appeared in "Freedoms Phoenix" ; http://www.freedomsphoenix.com/Find-Freedom.htm?At=0066750&From=News

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